Loss Per Share

Shares of common stock issuable
under convertible preferred stock, warrants and options and shares subject to restricted stock grants were not included in the
calculation of diluted earnings per common share for the three months and six months ended April 30, 2017 and 2016, as the effect
of their inclusion would be anti-dilutive.

The table below provides
total potential shares outstanding, including those that are anti-dilutive, on April 30, 2017 and 2016: